This is to notify all members and partners of RBAP of the newly issued Anti-Money Laundering Risk Rating System, adopted under MB Resolution 362 dated March 2 of this year. With the approval of this rating system, expect the inclusion of new composite rating scheme, assessment tools, guidelines and the like when the BSP conducts an on-site examination. The guidelines, sample questionnaire, details on audit control are provided below, which the BSP requires all covered financial institutions to thoroughly review and comprehend.
BusinessWorld: Rural bank to launch POS facility
April 12, 2012 Leave a Comment
DAVAO CITY — One Network Bank, the country’s largest rural bank, is planning to roll out about 2,000 point-of-sale (POS) terminals within the year as it seeks to improve services to clients while competing with the commercial banks.
Notice on Land and Sea transfer rates
April 10, 2012 Leave a Comment
On behalf of the Aklan Federation headed by Mr. John Guidon dela Cruz, we would like to notify all members and representatives of RBs interested in joining this year’s convention in Boracay of the available rates for Round Trip Land and Sea transfers. Organized by the aforementioned federation, the rates for Caticlan and Kalibo are as follows:
Change in the Maturity of Placements in the Reserve Deposit Account Facility
April 9, 2012 Leave a Comment
In connection with Resolution No. 475 of the Monetary Board, please be advised of the following amendments on the provisions of CL 539 of August 2006 and CL 551 of November 2006. The amendments are as follows:
Clarification on Secured loan and borrowing accommodation
April 9, 2012 4 Comments
For your information and guidance, kindly refer to the provisions of item K.1 of Subsection X326.1 of the Manual of Regulations for Banks on the definition of secured loan, borrowing or other credit accommodation, as follows:
CL 753: Unification of the Statutory/Legal and Liquidity Reserve Requirement
April 4, 2012 Leave a Comment
To all member RBs and partners, please be advised of Circular 753 or the Unification of the Statutory/Legal and Liquidity Reserve Requirement, Non-Remuneration of the Unified Reserve Requirement, Exclusion of Vault Cash and Demand Deposits as Eligible Forms of Reserve Requirement Compliance, and Reduction in the Unified Reserve Requirement Ratios
Call for Proposals: Social Marketing Campaign for Rural Banks and their Low-Income Clients
April 2, 2012 Leave a Comment
19th Microinsurance Basic Training Course on April 24 – 25, 2012
March 27, 2012 Leave a Comment
RBAP-RBRDFI invites you to the 19th Microinsurance Basic Training Course. It will be held on April 24 – 25, 2012 at the RBAP Conference Hall, 2F RBAP Bldg., Intramuros, Manila. This training aims to enhance the capacity of rural banks to serve as effective delivery channels for microinsurance services for the low-income clients. It is also designed to ensure compliance to the following regulations:
Latest modus operandi targeting remittance agents
March 26, 2012 Leave a Comment
This is regarding fraudulent/ illegal scheme perpetrated against remittance centers by means of deceit and/or misrepresentation. Due to the recent illegal act that affected one remittance Center (non-bank), all management and personnel should heed the cautionary directives, stipulated in BSP Circular Letter No. 19. As stated in the circular, the perpetrators seem to be targeting young and inexperienced personnel who are easily cowed by “authoritative” characters.
Philippine Star: RBs to boost consumer, SME lending portfolio
March 26, 2012 Leave a Comment
Philippine Star — The country’s rural banks will be aggressively lending to the consumer and small and medium enterprise (SME) markets this year, a bank official said.
Philippine Star reports arraignment of former Legacy Executive
March 18, 2012 Leave a Comment
The former executive of the failed Legacy Bank, one of those accused of misappropriating funds of the Rural Bank of Carmen, was finally arraigned in the city of Danao in Cebu after being nabbed in Bohol last month.
Important Reminder: Hotel Reservation for the 2012 RBAP Convention
March 15, 2012 Leave a Comment
Dear Rural Bankers:
Please forward to RBAP your hotel reservation for the upcoming 2012 RBAP National Convention in Boracay on or before March 16, 2012.
Guidelines in Strengthening Corporate Governance
March 1, 2012 Leave a Comment
To all rural bankers, pleased be informed of the recently issued Circular 749 or the approved Guidelines in Strengthening Corporate Governance in BSP supervised Financial Institutions. Pursuant to Resolutions 111 and 227 of the Monetary Board, the 29-page circular stipulates the amendments on the Manual of Regulations for Banks under Subsections X141, X142, X174 to x177.
RBAP reaches out through mobile banking
February 14, 2012 Leave a Comment
Another great read from the Manila Times as it features RBAP’s huge role in promoting mobile banking in the countryside.
Repost: Consultation with PDIC
February 10, 2012 Leave a Comment
PDIC President Valentin Araneta with RBAP Directors and Trustees
